As volatility remain high in Bear markets therefore trading positions have to be understood after every decisive intraday move because small traders stop losses trigger during such volatility.
Consolidation range of 5360-5400 was updated yesterday in Technical Analysis and Market Outlook(20-08-2013) and last 5 hours trading within this range with higher levels selling but lower levels consolidations also seen today
As higher levels selling patterns today and all trends are down therefore expected that Nifty will not sustain above today highest(5417) and finally down moves will be seen below 5360 but volatile day today and technical positions reverses in such volatility also therefore view is cautious and finally next Short Term moves confirmation is must through sustaining beyond 5360-5400 because good consolidation was also seen between this range yesterday.
Consolidation range of 5360-5400 was updated yesterday in Technical Analysis and Market Outlook(20-08-2013) and last 5 hours trading within this range with higher levels selling but lower levels consolidations also seen today
As higher levels selling patterns today and all trends are down therefore expected that Nifty will not sustain above today highest(5417) and finally down moves will be seen below 5360 but volatile day today and technical positions reverses in such volatility also therefore view is cautious and finally next Short Term moves confirmation is must through sustaining beyond 5360-5400 because good consolidation was also seen between this range yesterday.